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20121201
20121231
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and the u.s. maritime alliance are close to finalizing a new labor deal. so close, that they've extended the deadline on negotiations by another 30 days. this heads off a strike that could have begun on sunday, crippling 14 important ports. the possibility of a strike worried retailers, manufacturers, and farmers, and risked losses in the billions. >> susie: our next guest says once the fiscal cliff mess is resolved, there will be an explosion of mergers and acquisitions in 2013. he's robert profusek, chairman of the global m&a practice at jones day. so bob why you are so up beat about more mergers and being a acquisitions especially with everything going on with the fiscal cliff. >> it's a pessimistic time andtn the merger market. m & a has been fantastic. 9 market has been okay. it's not been at th terrible bus been good. it's been held back by the negativism that was focused on the eu and this year it's the fiscal cliff and the election and everything else. the conditions are there. we need more m. & a in this cup. >> you are saying they are notgt ablocksblockbustermega deals buo medi
and about u.s. ambassador susan rice's decision to take her name out of consideration to be secretary of state. >> woodruff: then, we turn to the fiscal crisis here at home. andrew kohut explains the latest poll numbers, showing strong support for the way president obama is handling the negotiations. >> the democrats are better regarded in this negotiation than the republicans by a lot. >> warner: plus ray >> warner: plus, ray suarez gets two views on proposals to raise the age of eligibility for medicare to 67, from 65. >> woodruff: it's bottoms up tonight for miles o'brien who reports on genetic links to alcoholism and other addictions. >> so far as i know, there's no law against reporting under the influence, so here goes something. >> warner: and we talk with ambassador marc grossman about prospects for afghanistan as the u.s. prepares to withdraw troops by 2014 and as he leaves his post as u.s. special envoy to the region. >> woodruff: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. b
. in fact, it looks like u.s. consumers are doing what they do best in mid-decmber: procrastinating. how are you doing on your holiday shopping? >> pretty poorly to be honest with you. my wife typically takes care of most of it. last year, i was definitely ahead of the game. i'm probably 75% to 80% done. fantastic. haven't started yet. hoping to get a jump start on it this trip. >> reporter: retail expert mike niemira says only half of americans polled recently have finished their holiday shopping. >> the consumer is behind on their completion. that means we rely much more on the next few days for it to pick up dramatically. >> reporter: because of all the fiscal cliff doom and gloom, retailers are worried. and perhaps they should be. after all americans think their personal finances will take a hit next year. and that might mean fewer gifts under the tree. >> we believe that the post black friday lull that we've seen in the last three weeks that consumers are spending at a very restrained rate simply because they don't have the money and there's a little bit of a fear factor out there.
ground. >> susie: i'm susie gharib. the u.s. stock market is expected to be the world's best performer in 2013. that's the prediction of john rogers of the c.f.a. institute. he joins us tonight. >> tom: and new rules for health care also are around the corner. tonight, we look at how small businesses are preparing for the changes. >> susie: that and more tonight on nbr! >> tom: there's no deal, but the two sides are still talking. house speaker john boehner and president obama met earlier this evening at the white house in an effort to move forward the stalled fiscal cliff talks. there are now just 18 days before the tax hikes and spending cuts that make up the cliff take effect, and today, there were few signs of progress. as darren gersh reports, the tone of the talks, if anything, is getting worse. >> reporter: house democratic leader nancy pelosi may just have a second career as a stock analyst. her commentary on the markets today was dead on. >> so far, they trust that we would not be so stupid as to go over a cliff. >> reporter: but pelosi made clear what everyone knows-- time is
. and housing continues to be the bright spot in the u.s. economy: home prices post their biggest advance in two years. that and more tonight on "n.b.r."! christmas may be over, but the holiday shopping season continues. many consumers hit the malls today to return gifts and buy what they really wanted. and this is the time many gift cards get redeemed. but for retailers, holiday sales so far have been a flop. sales in the two months leading up to christmas, rose just 0.7%, according to mastercard advisors that tracks the numbers. that's way below what the retail industry was predicting. erika miller spoke with retail expert dana telsey and began by asking what happened. >> i think there were a confluence of events, extra long season. hurricane sandy. tragedy in ct. >> none of the events out there were feel good factor events. it was all for consumer morale. >> when you look at the weakness this holiday season, how much of the blame do you put on retailers for not having inspiring merchandise and how much of it are just factors beyond their control like the economy and the fiscal cliff? >> i thi
debate hits the floor of the u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box company is using them to reinvent itself. >> susie: that and more tonight on nbr! >> tom: an agreement to ease the fiscal cliff may not be wrapped up and waiting under your tree for christmas. senate majority leader harry reid said today it would be hard to get an agreement finished by the holiday, blaming the delay on republicans. not surprisingly, republicans say the president hasn't gotten serious about the talks. plenty of outside groups are offering up suggestions. and as darren gersh reports, they include warren buffett and some other big names in finance. >> reporter: there was some public movement in the fiscal cliff standoff today. instead of holdi
of january, the u.s. economy will be hit by $600 billion of automatic tax increases. and automatic spending cuts. the phenomenon known as the fiscal cliff. if that happens, it will trigger a recession, or worse. so, president obama is taking action and insisting that republicans agree to increase the existing marginal tax rates on the wealthiest top 2% of u.s. taxpayers. and of course, there is more to the deal. but there will be no negotiations on that big part of the deal unless that tax on the wealthiest 2% is negotiated now. the president could not be more emphatic in stressing the indispensable element of surmounting the cliff is that super-rich revenue. >> we're not insisting on rates just out of spite. or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. >> okay. here is john boehner, the republican house speaker. >> if you look at the plans that the white house have talked about thus far, they couldn't pass either house of the congress. >> republicans proposed raising $800 billion in extra revenues. and that revenue should come t
business is looking good for 2013, but going over the fiscal cliff could change that. >> tom: and the u.s. treasury speeds up plans to sell its stake in general motors. is the automaker ready to stand alone? >> susie: that and more tonight on "n.b.r."! >> tom: unr the threat of ar white house veto, the u.s. house of representatives is expected to vote tomorrow on the republican plan-b to avoid the fiscal cliff. house speaker john boehner thinks the house will okay the package, trying to turn the heat up on president obama to steer clear of automatic tax hikes and government spending cuts due to take affect in 12 days. still, as darren gersh reports, there are some signs the two sides are narrowing their differences. >> reporter: house republicans say they're still working on plan a: a big agreement with the president to cut spending and raise revenues, but they were pushing plan b today-- a tax hike for those making more than a million dollars. >> tomorrow the house will pass legislation to make permane tax relief for nearly every american. 99.81% of the american people. then the presiden
street in downtown petaluma, california, but it could be anywhere, u.s.a. this is where small businesses live. small businesses that create two out of every three new jobs in the u.s. tonight you're going to meet some of the people behind those businesses and find out how they plan to keep building those businesses. we begin with the housing market, ground zero for the recession. from construction to appliance makers, when it collapsed it took a lot of very good companies down with it. but here's one that has managed to learn how to paint over the rough spots. you can brush it on, you can roll it on, you can get it on your pants. paint. the kelly moore plant in san carlos, california, turns out nearly 40,000 gallons a day. it's one of the largest employee-owned paint operations in the u.s. part of a $13 billion industry domestically. 140 workers in the 15 acre san carlos facility, 1,500 world wide, including 150 retail outlets in seven states. >> we own currently 58% of the stock and the rest of the stock is owned by the moore family. >> mike: you like white? they got it. you like -- the
,965. the nasdaq fell eight points to close at 3002. a number of automakers posted strong u.s. sales in november, among them chrysler, ford, and toyota. chrysler and toyota reported sales increases in the double digits, over a year ago. ford sales rose more than 6%, but g.m. reported only a 3% increase. volkswagen had its best november since 1973. in syria, the u.n. announced it is pulling out non-essential international staff for their own safety. those who remain will be restricted to the capital city, damascus. separately, the u.s. voiced mounting concern about activity at syrian government sites storing chemical weapons. this afternoon, president obama warned syrian leader bashar al- assad not to cross that line. oday i want to make it absolutely clear to assad and those under his command, the world is watching. the use of chemical weapons is and would be totally unacceptable. and if you make the tragic mistake of using these weapons, there will be consequences. and you will be held accountable. >> sreenivasan: in response, syria's government released a statement saying it would never use ch
. >> sreenivasan: iran claimed today it has captured a u.s. surveillance drone. the "scan-eagle" is used to collect photographic and video images. iranian state television broadcast video of two military commanders examining the aircraft. they said it was seized "in the past few days," but they did not specify where or how. in response, the u.s. navy said none of its unmanned aerial vehicles-- u.a.v.'s-- are missing. and in washington, white house spokesman jay carney raised doubts about tehran's statements. we have no evidence that the iranian claims you cite are true. i'd refer you to the pentagon's comments this morning for details about this particular type of u.a.v., but again we have no evidence that the iranian claims are true. >> sreenivasan: a year ago, iran did manage to down a c.i.a. drone that apparently crossed the border from afghanistan. and last month, the u.s. military said another drone came under fire by iran over the persian gulf. it was undamaged. in afghanistan, a bomb blast has killed two nato troops in the country's south. the alliance says the attack happened yesterday. it
in recent days. against that backdrop, president obama announced tuesday that the u.s. will now formally recognize the syrian opposition movement. >> we've made a decision that the syrian opposition coalition is now inclusive enough, is reflective and representative enough of the syrian population, >> ifill: hours later, the friends of syria meeting in marrakech, morocco took the same step. the u.s. became one of 114 nations to endorse the syrian national council created just last month under international pressure. deputy secretary of state william burns: >> in a growing number of towns and villages, a new syria is being born, the regime of bashar al assad must and will go, the sooner he steps aside the better for all syrians. >> ifill: despite showing signs last week of a possible shift in russia's position, the decision did not go down well in moscow, which opposes outside action against the assad regime. foreign minister sergei lavrov: >> ( translated ): as the coalition has been recognized as the only legitimate representative, it seems that the united states decided to place all be
." as the tax hikes and spending cuts approach, u.s. manufacturers saw business shrink last month. the institute of supply management's purchasing managers index fell unexpectedly to 49.5, down from 51.7 in october. a reading below 50 means business has fallen back into contraction. the november statistic is the lowest since july 2009. the dow fell 60, the nasdaq down eight, the s&p 500 lost six. >> susie: jeff saut says investors seem to be ignoring bad news, and this is a bullish sign. he's managing director and chief investment strategist at raymond james. so jeff, not only are you bullish but you're also calling for a pretty decent santa claus rally. tell us why? >> well, i have learned over the 42 years in this business, susie, that it's pretty tough to put stocks to the downside in the ebullient month of december. i mean it's happened but it's a pretty rare event it just seems to be the holiday sentiment tend to its lift stocks. i think that is what will happen this kror because i'm not one that thinks we'll fall totally off the cliff. >> tell us more. you think there is going to be some k
conversation and clearly sub optimal from the u.s. economic perspective. so when unemployment starts to rise, it tends to be persistent and gain momentum and we want to try to avoid that at almost any cost so this is something that, even if we hit 9%, they would clearly be recessionary if we were talking about than the six months from now. >> and what about the economic status of the u.s.? in the world? there's been a lot of talk about a downgrade of the u.s.' credit rating. do you see that happening? and what would that mean? >> well, it clear has has happened in the past from s and p and it could very happen through moody's. i think it's symbolic of the long-term structural imbalances that we need to address clearly as a nation. we are still however, susie, as clearly, you and i know, still the locomotive engine of the world despite china and other emerging rising markets and that has been clear the past two years, where europe is in recession, japan continues to languish and yet the u.s. economy has shown resiliency but it is not immune from fiscal shock and that's something i clearly con
accepted blame in failing to protect the u.s. diplomatic mission in libya. >> we have to do better. we owe it to our colleagues who lost their lives in benghazi. we owe it to the security professionals who acted with such extraordinary heroism that awful night to try to protect them, and we owe it to thousands of our colleagues serving america with a great dedication every day in diplomatic posts around the world. >> brown: spending versus saving: amid the last-minute holiday rush, paul solman weighs the economic benefits. >> holiday season grand central terminal and a key question: is consumerism kind of a bad thing that's overdone this time of year? or is it the key driving economic and moral force in our society? >> suarez: and we close with another in our series of interviews with newly elected congressional members. tonight, north dakota's senator- elect, democrat heidi heitkamp. >> brown: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfr
ai wei wei, whose work is on exhibit in the u.s. for the first time. >> if we can change ourselves, that means part of society will change. if more people can do so, then we can change the society. >> woodruff: and we look at what the federal trade commission calls a "digital danger zone," mobile applications that gather data about children. >> what needs to be done is a way for parents to easily at any time see exactly what's being collected and who they are sharing that information with. >> woodruff: that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: michigan, a state considered a cradle of the
's monthly snapshot of the u.s. labor market. it, too, is likely to reflect temporary effects related to the aftermath of hurricane sandy. >> we're looking for only a 50,000 gain in jobs in november, well under that 170,000 average we've seen over the past three months. >> reporter: hurricane sandy's effects on hiring may be short- lived, but experts worry fiscal cliff concerns could result in a new storm brewing for workers looking to land a job in the coming weeks. suzanne pratt, "n.b.r.," new york. >> tom: citi and the financials lead the way higher on wall street, helping the dow top 13,000 again. but a big drop in apple shares kept the nasdaq from gains. by the closing bell, the dow was up 82 points, the nasdaq down 23, the s&p added two points. >> susie: investors were also encouraged by news that american workers were very productive this past summer, and that's good news for company profits. productivity increased at its fastest pace in two years, at an annual rate of 2.9% from july through september. that number blows away the initial estimate of 1.9%. erika miller takes a cl
be a net buyer because the economy next year is likely to be a bit better next year here in the u.s. and globally. >> susie: we saw that treasury yields rose, and is this a signal to get out of treasures and to put your money into stocks? this has been a safety area for most investors. >> it sure is. i bought a bond and it went up, and why do you want to take this away from me. but i believe in the premises of your question. if, in fact, the economy is a little better, and the financial risks are a little better, that's a recipe for very low interest rates, for a mild increase in interest rates, which means bond prices go down. i would not be overweight in the treasury area. i would have modest weights and have the rest made up in equity, susie. >> susie: bob, thanks a lot. we look forward to your 10 predictions in 2013. we'll be talking to you about that. robert doll as nuveen as asset management. >> susie: there was a new twist today in the samsung-apple saga over patent disputes. samsung electronics dropped a critical lawsuit banning the sale of apple products in europe. the good
on the tragedy in his home state and hi24 years in u.s. senate.24 >> there is reason for people to be angry skeptical and cynical about the willingness or capacity of congress to act or stop mass violence in our country. >>woodruff: and kwame holman remembers conservative juristff former solicitor general and failedupreme court nominee robert h. bork. >> ifill: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been proby: c >> support also comes from >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: the school shootings that shook theation sparked a new call to action at the white house today.at the president vowed to have proposals ready for the new congress that convenes next mth.t somber scenes of mourning played out once again today in newtown, connecticut. while in washington, president obama walked into the white house briefing room named for james brady-- the pre
greece would have a worse depression than the great depression in the u.s. >> brown: a player in campaign politics, but what of the current debt debate? we talk with tea party ally, matt kibbe. >> warner: and as e.p.a. chief lisa jackson steps down, we assess the track record of the administration's environmental agency. >> brown: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> warner: five days and counting with plenty of tit-for- tat charges, but no agreement in sight. that, in short, summed up the state of affairs in washington today as the fiscal cliff deadline loomed, january
victory investment. apple didn't say where in the u.s. the line of mac computers would be built or how many jobs might be included. now the return of apple to u.s. manufacturing comes as shareholders have experienced a very rocky ride in the past few months. the stock is down 22% from its all-time high in september. suzanne pratt reports. rtses. >> reporter: a peak inside this manhattan apple store and it looks like everything is a-okay. plenty of customer, plenty of purchases. so why has the shine come off apple's shares? with a-- in a word, actually two, profit-taking. >> i think the biggest reason for the selling going back to when it was priced $700 in september is pure profit-taking. if you look from the beginning year to september, the stock was up 74%. so i think you had some natural profit-taking. >> reporter: but this isn't ode year-end selling by institutions looking to record nice numbers. this supposedly is fiscal cliff related selling as shareholders worries that capital gains tax rates will be higher next year. >> still, financial planner sharon appleman says selli
to look beyond washington politics. suzanne pratt reports. >> reporter: yes, there will be life for the u.s. stock market after the fiscal cliff. it may not seem so today, as stock investors ran for the exits even faster than washington lawmakers left town for the holidays. but, somehow, someway, sometime there will be a deal between congress and white house. and, once that happens equity investors will need to refocus. >> once we get into the new year, i think we're going to get right back into earnings season again. and, once again earnings season is what happened last quarter and what do we think is going to happen in the quarters moving forward. >> reporter: as far as what happened in the quarter that ends for most companies on new year's eve, the answer isn't good. according to standard and poor's, wall street analysts predict big u.s. firms only saw a 3% increase in profits in the fourth quarter. on october 1, they were far more optimistic, forecasting a close to 10% gain. so what happened to all that earnings optimism earnings? it turns out it evaporated, as the u.s. economy started
with the opposition. on the syrian diplomatic front, secretary of state hillary clinton said today russia and the u.s. will support new efforts to mediate peace. but clinton underscored that the u.s. still insists that president bashar assad leave power. she spoke today in northern ireland, a day after meeting with russian foreign minister sergei lavrov and the u.n. envoy for syria, lakhdar brahimi. >> we reviewed the very mr. brahimi had his own additional information to contribute about what he is hearing from sources inside syria and both minister lavrov and i committed to support a renewed push by brahimi and his team to work with all the stakeholders in syria to begin a political transition. meanwhile, rebels in syria made the damascus international airport an official battleground. they said it's a legitimate target and they urged civilians to stay clear. fighting near the airport and around the capital city has intensified in the past week. the latest amateur video showed street battles and a car set afire by a rocket attack. the exiled leader of hamas khaled meshaal entered gaza today for the
address once again tonight. >> warner: then, ray suarez profiles three young immigrants in the u.s. illegally and seeking a reprieve from deportation. >> my values and customs are now american. so, you know, the idea of getting kicked out to korea and never come back to the u.s., i just can't even imagine this >> woodruff: mark shields and david brooks analyze the week's news. >> warner: and we examine the growing turmoil in egypt on the eve of a referendum vote on a new constitution. >> one of the major-- has been one between islimus and nonover the future of egypt and the character of the nation >> woodruff: that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: >> bnsf. >> support also comes from carnegie corporation of new york, a foundation created to do what andrew carnegie called "real and permanent good." celebrating 100 years of philanthropy at carnegie.org. >> and with the ongoing support of these institutions and foundations. and friends of the newshour. and... >> this program was made possible by the corporation for public br
,374. the nasdaq rose 15 points to close at 2,989. the u.s. senate has overwhelmingly approved a bill normalizing trade relations with russia. but the measure also contained provisions to punish russian officials accused of human rights offenses-- a move the russian government has denounced. the house passed the legislation last month. president obama has pledged to sign it into law. it was all smiles today for the duchess of cambridge, as she left a london hospital. the former kate middleton was discharged after being treated for severe morning sickness. the duchess emerged with her husband, prince william, three days after being admitted. the hospital stay prompted royal officials to announce her pregnancy to the public. those are some of the day's major stories. now, back to jeff. >> brown: and to egypt. within the last 24 hours the country has seen the worst violence since president mohamed morsi was elected in june. seven people were killed and more than 600 hurt during overnight clashes in cairo outside the presidential palace. we have a report from jonathan rugman of "independent televisio
remains endemic. toyota will pay a record u.s. fine of $17.4 million for failing to report auto defects quickly and delaying a recall. it's the company's fourth safety-related fine in the past two years. this one involved floor mats that could hold down the gas pedal in some 2010 lexus models. toyota did not admit to any legal violations. those are some of the day's major stories. now, back to judy. >> woodruff: the community continues to mourn its losses in connecticut, resume some routine and consider its own role in a national conversation on what steps should now be taken. ray suarez begins our coverage with this report. >> suarez: a hearse arrived this morning at saint rose of lima catholic church in newtown carrying the body of six-year-old james mattioli, one of the slain first graders from sandy hook elementary school. hours later, a church bell tolled as mourners greeted another small white casket at the funeral for jessica rekos, also six. (bell tolling). meanwhile, students from other local schools returned to class. in buses adorned with ribbons bearing sandy hook's colors,
the road to the city's airport. the u.s. soldier accused of espionage in the wikileaks document dump has conceded he considered suicide after his arrest. private first class bradley manning was cross-examined today in a pre-trial hearing at fort meade, maryland. he admitted making a noose out of bed sheets before being sent to the u.s. marine corps brig at quantico, virginia. manning says his treatment there was so harsh, the charges should be dismissed. the military says manning was a suicide risk, so jailers kept him isolated and took away his clothes. the holders of half of that record powerball jackpot of $588 million came forward today in missouri. a 52-year-old mechanic, mark hill, and his wife cindy were introduced in dearborn, just north of kansas city. cindy hill said she couldn't believe at first that their ticket was a winner. >> i didn't have my glasses and i was thinking is that the right numbers, is that the right numbers. and i was shakingment and i called my husband. i said i think i'm having a heart attack. and i drove to my mother-in-law's house to let her verify what i
holman. >> holman: the u.s. economy has dodged a potentially crippling strike at ports up and down the east coast and gulf coast at least, for now. the longshoremen's union agreed today to extend its existing contract by another month. that word came after the union and shipping lines worked out a deal on royalty payments for unloading containers. the contract extension gives the two sides time to resolve their remaining issues. wall street finished the week with its fifth straight losing session. stocks have been falling as concern mounts that washington will fail to get a budget deal. the dow jones industrial average lost 158 points today, to close at 12,938. the nasdaq fell 25 points to close at 2,960. for the week, both the dow and the nasdaq fell 2%. sectarian tensions flared across iraq today as tens of thousands of sunnis staged mass protests against the shi-ite-led government. there were rallies in fallujah and ramadi, where protests already had erupted earlier this week. today, mosul, tikrit and samarra had demonstrations as well. protesters took to the streets waving fla
marcus more to lose. steve posavak with us from vanderbilt university. >> susie: u.s. oil production hit a 15-year high in september. the up-tick is thanks to the controversial drilling method known as fracking. average daily production reached 6.5 million barrels a day. that's almost one million barrels more than a year ago. if that momentum continues, the u.s. might deliver on that prediction last month from the international energy agency, calling for the u.s. to surpass saudi arabia as the world's largest oil producer by 2020. here's one good thing to come from the destruction of hurricane sandy-- verizon customers will be getting faster, and more, telecom services. the company said today it is replacing damaged copper wires with fiber optic cable. that upgrade from older, slower copper allows verizon to offer more digital services, including bundling phone, internet and cable tv. and it means an increase in revenues for verizon. tom, that was the message from verizon's c.e.o., speaking at an investor conference today. but it didn't do much for the stock. verizon shares fell, like ma
to a four year low as u.s. businesses add 146,000 jobs in november. we look behind the numbers. >> tom: i'm tom hudson. we meet the c.e.o.'s of three small businesses hiring right now. what they do and why they're looking for help. >> susie: and house speaker boehner accuses president obama of wasting another week in the fiscal cliff negotiations. >> tom: that and more tonight on "n.b.r."! >> susie: the job market is proving to be surprisingly resilient. american employers hired 146,000 workers in november, much more than expected. and the unemployment rate fell to 7.7%, the lowest level since december of 2008. as erika miller reports, that wasn't the only surprise in today's report. >> reporter: almost no one on wall street saw this good news coming. there was every reason to think hiring would be weak last month. after all, many parts of the east coast are still recovering from devastation caused by superstorm sandy. >> i think the most likely explanation here is sandy's impact was significant but was so short-lived that it didn't extend to the sample period of the employment report whi
association of business economics. the organization figures the u.s. economy will grow 2.1%, driven by housing and construction, but with corporate profit growth slowing down. nayantara hensel is the chairman of the national association for business economics. not bad, moderate, stable but certainly not robust here s it? >> no, that's absolutely right, tom. basically again we're forecasting annual average real gdp growth at 2.1% but the good news is we expect it to accelerate during the course of the year, perhaps reach being 3% by the fourth quarter of 2014. >> tom: what is going to add to that growth considering, is it being held back in the first six months because of the uncertainty over the fiscal cliff? >> absolutely. in fact, if you take a look at the panelist forecast on a quarterly basis they suggest real gdp growth will be 1.8% in the first quarter of 2013 but will jump by the second quarter of 2013 to about 2.4%. i think some of that is definitely being held back by a lot of the concerns that resolution is important of the tax and the spending plans. and about 90% of our panelists f
republican senator judd gregg joins us as the u.s. house prepares to vote on the republican plan "b" for avoiding the fiscal cliff. >> susie: and investors gobble up shares of blackberry maker research in motion as the smart phone maker posts better than expected quarterly results. >> tom: that and more tonight on nbr! >> susie: here at the new york stock exchange, the big trade of the day was the big board itself. the n.y.s.e.-euronext has agreed to sell itself to the intercontinental exchange, an acquisition that would reshape wall street. it's an $8.2 billion deal that values the n.y.s.e. at $33 a share, a 38% premium to wednesday's close. so what are the implications of an upstart exchange buying the venerable big board? erika miller reports. >> reporter: the new york stock exchange has been the symbol of capitalism for nearly two centuries, but now it wants to give up its independence and be bought by a little-known rival in atlanta. the intercontinental exchange, or "ice" for short, was started 12 years ago as an energy trading platform. since then, the exchange has evolved in
. the statement gave no details. the six u.s.-allied countries also called for swift international action to end the bloodshed in syria.in in central asia, a military plane crashed early this morning in kazakhstan, killing 27in people, including the country's head of border security.ll the russian-made aircraft went down near the southern city of shymkent. the dead also included seven crew members and 19 border guards. there was no immediate word on the cause of the crash, but kazakhstan has been plagued by heavy winds and snow in recent weeks. the long-time actor charles durning died monday at his home in new york. he came to be known as the "king of the character actors" in a 50-year career that spanned 5 broadway, the movies and television. along the way, he earned two oscar nominations. one was for his role as the corrupt governor in "the best little whorehouse in texas" in 1982. i and in "tootsie," he played the9 unwitting suitor of dustin hoffman, who was posing as a female soap opera star. charles durning was 89 years old. those are some of the day's major stories. a now, back to gwen. >>
of reactions to a u.s. sanctions law targeting russian human rights abusers. in washington today, a state department spokesman called the ban misguided. and adoption groups in moscow said it would harm children most. >> ( translated ): today we don't have that number of russian families who are willing to adopt, and the children who go to adopted families abroad are the children that russian families wouldn't take. there must be at least five refusals by russian families for the child to go to foreign parents. for that reason i don't see within this law an improved situation for these children. >> holman: russian president vladimir putin defended the legislation last week, without saying directly that he would sign it. in economic news, a mastercard report said u.s. holiday sales so far have been the weakest since 2008. and wall street failed to get any momentum today. the dow jones industrial average lost 24 points to close at 13, 114. the nasdaq fell 22 points to close at 2,990. those are some of the day's major stories. now, back to margaret... >> warner: we turn to the difficulties of
only 72 firms decided to make similar payouts. this is not the first time u.s. companies have been so generous. exactly two year ago, there was a significant pickup in the number of u.s. companies declaring special dividends. the threat of higher tax rates for dividends was behind that spike, too. ample cash on a firm's balance sheet is also a common catalyst for special dividends. >> basically, companies don't want to have too much cash. and, if you don't have places to invest, if you don't have good takeover opportunities then they want to shrink the cash. >> reporter: it turns out, companies with insiders who own big chunks of stock such as brown forman are also more inclined towards special dividends. don't forget, they get rewarded, just like regular shareholders. a recent study by markit research shows more than half of the companies declaring special dividends in late 2010 had executives who owned at least 25 percent of the shares. that might give investors the idea of chasing companies likely to declare special dividends. after all there is some evidence that firms get a small
california." big news today from the u.s. supreme court on gay marriage. before we get to our other topics, we'll briefly discuss that with our panelists. joining me tonight are jill tucker, "san francisco chronicle" education reporter. matthai kuruvila, also with the "san francisco chronicle." and paul rogers with "san jose mercury news." the high court announced it will review proposition 8, california's ban on same-sex marriage and the federal defense of marriage act. paul, we'll begin with you. what can we infer from this? what's the time frame? can we expect any sweeping judgments? >> well, a timeframe is the arguments are going to happen in march then we expect a decision by the end of the court session which is june 27th. it will probably go right to the very end. as for how sweeping and how big of a decision we can expect, that's sort of the $64,000 question that court watchers were already speculating about today. are we going to get a narrow ruling one way or another on either one of these two cases or is it going to be one of those once in a generation social civil rights type c
. suzanne pratt reports. >> reporter: the tree is up on wall and broad, and so is the u.s. stock market. the holiday season typically is a good time for stocks. in fact, since 1950, december has been the best month of the year for the s&p 500 with the index gaining an average of 1.7%. this december is off to a good start, even though the fiscal cliff looms large over trading floors. most investors remain optimistic there will be a deal in washington before santa arrives. but floor broker teddy weisberg isn't sure where all the optimism is coming from. >> it's a real dilemma here because a lot of folks that i talk to, and customers and professionals alike, are very, very nervous. and i think they are perplexed by the lack of weakness in the market, if you will. >> reporter: economists say no deal between lawmakers and the white house by new year's could push the u.s. into recession by early next year. that dire prediction should be bad news for stocks, but investors remain unfazed. experts say stocks are more likely to move in a tight trading range in the next few weeks. >> if it does ge
there is a bond bubble? >> we believe it depends on which bonds you're talking about. let me be specific. u.s. treasuries, if you're talking about the long maturities, 15, 20, 30 years, i would say be careful. in most scenarios, those come under pressure. if you're talking about the shorter maturities, we think there remains value. not as much as they used to be, but there is still some value. 10 years and in, it is safer. 10 years and beyond is dangerous. if you're going to other bonds, it depends on quality. investors need to focus on companies that are sovereign, with very strong balance sheets, explosive growths and positive cashflows, because you're going to need all three things to navigate this small, complex environment. >> susie: let me ask you real quickly before we leave here about the fiscal cliff because ben bernanke talked a lot about that today. we discussing that with darren about all of the risks. there is a lot of back and forthwith lawmakers in the white house. what is the best possible outcome you're expecting and hoping for? >> so it is different things. so what we hope f
the start of the financial crisis, the health of the overall u.s. economy has become the biggest concern for state economies. with state budgets already constrained, deeper cuts from the federal government could leave them in a pickle. after all, unlike the federal government, states are required to balance their budgets every year. ruben ramirez, nbr, washington. >> susie: still ahead, there's more to holiday spending than electronics and apparel. we'll look at one holiday decorating business. >> susie: 'tis the season for procrastinators. 17 million americans were expected to hit the malls today. and the good news for merchants: many of them were simply crossing off names on their list, not bargain shopping. as erika miller reports, retailers hope they'll turn a ho-hum christmas into a merry one. >> reporter: the success of the holiday season for retailers depends on procrastinators, and also on families like the greers picking up a few extra gifts before the big day. >> we are looking for stationery, for frames. >> reporter: and that also means more gift wrap. >> we want gifts that yo
over syria's chemical weapons capability and what, if anything, the u.s. can do about it. >> woodruff: from florida, hari sreenivasan has the story of endangered coral reefs. many of them dying because ocean temperatures are rising and the waters are more acidic. >> i remember seeing fields of elk horn coral that you couldn't see through it and you couldn't see beyond it and those same areas are dead you know 99% dead. ♪ >> ifill: and we close with a remembrance of jazz great dave brubeck who died today, one day shy of his 92nd birthday. >> woodruff: that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: the nation's third- largest bank, citigroup, announced big job cuts as it continues to scale back in the wake of the financial crisis. the 11,000 employees to be laid off worldwide, make up about 4% of the comp
and the u.s. confirmed today that singer jenni rivera was killed sunday in a plane crash. she and six others were on a private jet that went down south of monterrey in northern mexico. the cause of the crash is under investigation. rivera was one of the most popular female singers in the musical genre known as grupero. she sold more than 15 million albums and won a number of latin music awards. jenni rivera was 43 years old. those are some of the day's major stories. now, back to gwen. >> ifill: michigan, home to the united auto workers and one of the most heavily unionized states in the country, is suddenly ground zero in the national debate over workers' rights, as the republican lawmakers who control the state's legislature prepare to cast a vote tomorrow that could permanently alter the political landscape. >> ifill: hundreds of people descended on the state capitol building in lansing last week to protest a move to make michigan a right-to-work state. republicans running the state house and senate have approved a pair of bills to allow workers to hold union jobs without joining the unio
of the day. here's kwame holman. >> holman: a car bomb exploded outside a compound used by a u.s. construction company in kabul, afghanistan, today. the firm builds facilities for the u.s. military. two afghan workers were killed, and more than a dozen others were wounded. the taliban claimed responsibility. and in the east, villagers held funerals for nine young girls who died in an explosion in nangarhar province. police said they may have triggered a land mine left over from the time of the soviet invasion. meanwhile, in northwest pakistan, a car bomb in a crowded market killed 17 people and wounded more than 40. the blast left a scene of scorched wreckage. in syria, the vice president now is warning that neither side will win the battle for control of the country. farouk al-sharaa is a longtime ally of president bashar al- assad's family. in an interview, he called for a national unity government with "broad powers." meanwhile, the violence raged on. rebel fighters claimed they captured an army infantry college near the northern city of aleppo. president obama and house speak
outside, in st. peter's square. and u.s. troops in afghanistan marked another holiday on the front lines with early christmas dinners. >> my family, however, this job comes with a price, many of the soldiers realize that price. even though we like to be with our families we realize the importance of what we're doing here and we believe in it. there also was another fatal shooting of an american in afghanistan today. a policewoman in kabul killed a u.s. civilian trainer who'd been working with the nato command. there've been more than 60 such "insider" attacks this year. this was the first committed by a woman. in syria, the u.n. envoy to syria met with president bashar al-assad in damascus, but he gave no sign of progress toward halting the civil war. lakhdar brahimi spoke with assad as part of a two-day visit. brahimi was appointed envoy in september, but he's made little apparent headway. the latest visit came a day after opposition groups reported a government air strike on a bakery killed at least 60 people. authorities in india restricted vehicle and railroad travel in new delhi to
. >> and the last time the fcc tried to do this, the u.s. court of appeals for the 3rdrd circui ordered the commission to hold up, that it should first evaluate the impact of any rule changes on the ownership by females and minority. what impact do you think this new rule would have on minority and women in the media? >> well, the truth is that right now, in terms of minorities and women, there is relatively, an embarrassing little amount of ownership. no one doubts that if you move to a situation where corporate america, the big guys, own more and more of the media, it will mean that minorities and women and those folks who don't have big bucks are going to be squeezed even further to the periphery. so it will be bad for minorities. it will be bad for women. and most significantly, it will be bad for american democracy. >> some people argue that newspapers are failing anyway. that they're going under, losing advertising, cutting their staffs, losing their readership. and that it would be a good thing for these big, profitable corporations like ge and murdoch's news corporation to take
. >> thanks for having me. >> suarez: you can watch the nra's complete address online; and compare u.s. gun policy with that of other nations in a post from the council on foreign relations. >> woodruff: a cloud of uncertainty hung over official washington today after conservative house republicans last night spurned a fiscal cliff plan put forward by their leader, and as the president made a late-friday appeal to both sides to keep working toward an agreement. newshour congressional correspondent kwame holman has our report. >> holman: house speaker john boehner went before cameras this morning just hours after he abandoned a vote on his "plan b". >> it's not the outcome that i wanted, but that was the will of the house. >> holman: boehner's plan would have raised tax rates for households making more than $1 million, whereas president obama would raise rates on incomes above $400,000. but last night, as the vote neared, it became clear that at least two dozen rank-and-file republicans still opposed any increase. so party leaders abruptly ended the session. >> the house will stand in recess
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